Wednesday, 30 May 2012

UK: England and Wales: limited partners' access to partnership books

Last year, in Inversiones Frieira SL & Anor v Colyzeo Investors II LP [2011] EWHC 1762 (Ch), Norris J. set out some of the principles governing a limited partner's right of access to the partnership's books. This judgment was not, however, the end of the matter and a further judgment was delivered earlier this week - Inversiones Frieira SL & Anor v Colyzeo Investors II LP [2012] EWHC 1450 (Ch) - in which Norris J. considered whether access should be granted to specific documents because the parties had failed to reach agreement. In the course of doing so, he stated that the right to inspect partnership books did not require the creation of "partnership books" or papers not already in existence. He also reiterated the point that the books to be produced will vary from case to case, depending on the nature of the partnership business, its governing documents and current business practice.

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